Browse Symbol Stacks: STZ: Fuinhaz $SPY morning update for August 2nd, 2012 | SharePlanner

Fuinhaz $SPY morning update for August 2nd, 2012 | SharePlanner

$SPY took a nose dive and right now it is looking very much like it wants to test that 100MA level @ 136.16. I see that the sentiment is overall bearish with a good reason. When we get close to a level that we might actually bounce, the market usually hoover around, get some people stopped, and ultimately in most cases tank again, only to make the people who jumped in the positions before the right time very silly.

This is actually the time of the day where things get very frustrating, and boring. A lot of people get stopped out of their positions, and pretty much end up losing the bigger runs.

Here are some names to keep an eye.

$CAT under 83.40 is a short.

$COG under 40.09 it is a short with a possible gap fill.

$INVN is a short under 12.40

$K is a short under 49.16 (went out of range)

$PXD under 93.02

$STZ under 29.35 (with the high of the day being your stop.)

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